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UPDATE: Enthusiast Gaming Has Acquired Omnia Media

M&A | ANNOUNCEMENT DATE: 31 AUG 2020
WRITTEN BY | 04 Sep 2020
UPDATE: Enthusiast Gaming Has Acquired Omnia Media
M&A

💵 Acquisition

  • Canada-based gaming platform Enthusiast Gaming Holdings (TSX: EGLX, OTCQB: ENGMF, FSE: 2AV) has closed the acquisition of California-based global YouTube gaming platform Omnia Media from Toronto-based international producer and operator Blue Ant Media for a total of about $34.1m, with a 4-month period of stock consideration

  • The purchase price includes:

    • $8.3m in cash

    • $21.5m worth of Enthusiast Gaming’s common shares (18%)

    • $4.3m face value of a vendor-take-back note

  • With this acquisition, Enthusiast Gaming expected to immediately generate positive EBITDA

  • The company also becomes the largest gaming and esports media platform in North America, reaching over 1 billion views on websites and over 4.2 billion views across all channels monthly, with over 75% of views being premium video

  • Additionally, the company has closed the related public offering, gaining $13.16m of gross proceeds

  • The acquisition was announced this August, during the Enthusiast Gaming’s report

🎲 Products

  • Omnia is one of the largest gaming video networks with over 50 million monthly active users. The company creates videos and shows to promote clients products through popular video hosting sites

  • Currently, it has over 1,000 channels with more than 500 million subscribers and 30 weekly shows among them, with 3.2 billion monthly video views overall

  • The company also represents over 500 gaming influencers across YouTube and Twitch

SOURCES: ENTHUSIASTGAMING, SEEKINGALPHA, GLOBENEWSWIRE

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Blue Ant Media
  • Established in 2011

  • Headquarters - Toronto, Canada

  • Founded by Michael MacMillan

  • International producer, distributor, channel operator and gaming video content company.

Omnia Media
  • Established in 2012

  • Headquarters – Culver City, California, USA

  • Founded by Tamoor Shafi

  • Global YouTube platform of gaming-related video content

  • Omnia reported ~$60m in revenue for the fiscal 12-month period ending August 31, 2019, demonstrating about 23% of revenue growth

Enthusiast Gaming
  • Established in 2014

  • Headquarters — Toronto, Canada

  • Founded by Menashe Kestenbaum

  • Largest gaming network in the U.S., owns Canada’s largest gaming expo, EGLX, and the largest mobile gaming event in Europe, Pocket Gamer Connects

  • 2020 Second Quarter Financial Statements and Investor Presentation — October 2020